It includes $60 million in guaranteed money, and will earn Newton $67.6 million in the first three years. There's a $22.5 million signing bonus, a $7.5 million roster bonus due this weekend, and a $1 million base salary this season, which totals $31 million for this upcoming season.

With that number, the star QB will be the highest-paid player in the NFL.

However, if Russell Wilson and Andrew Luck sign new deals this off-season, they may surpass Newton's.

"I've said all along, Cam is our franchise quarterback and we are absolutely thrilled that we got the extension done," general manager Dave Gettleman said. "It allows us to do the long-term planning that we need to do to make sure that he's surrounded with players and that we can continue to build this team."

Newton was the first pick of the 2011 draft. He was in the final year of his rookie contract. The Panthers exercised the fifth-year option on that deal last year, which means that he was set to make $14,666,666 in 2015 before the extension.